Needham Maintains Buy on Amedica Corporation Following 2Q:15 Results; Sees 88% Upside for the Stock

In a research report released today, Needham analyst Mike Matson reiterated a Buy rating on shares of Amedica Corporation (NASDAQ:AMDA) with a $1.00 price target, which represents a potential upside of 88% from where the stock is currently trading.

Matson noted, “As previously noted, the FDA has requested the two-year data from the CASCADE study which has delayed clearance of the Valeo C+CsC composite spacer until 4Q15 or 1Q16. While the delay is unfortunate, we still believe that Valeo C+CsC should be a significant growth driver. Additionally, we still see potential for additional private label and/or OEM agreements to serve as catalysts in the near term.”

“We have maintained our 2015E and 2016E revenue of $19.3M and $20.0M, respectively. And we have maintained our 2015E EPS of ($0.35) and raised our 2016E EPS to ($0.21) from ($0.25).”, the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mike Matson has a total average return of 8.3% and a 62.1% success rate. Matson is ranked #496 out of 3736 analysts.

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